- •Dormant Bitcoin whale awakens after 12 and a half years, moving 100 BTC valued at $12.49M.
- •Whale holds 591 BTC worth $73.67M as Bitcoin consolidates near $124K after $126K ATH.
- •Analysts see rising whale activity and $44.4B open interest driving market momentum.
A Bitcoin whale inactive since 2013 transferred 100 BTC valued at $12.49 million to two new wallets, according to Onchain Lens. The investor originally got the 691 BTC for $92K only, when Bitcoin traded at $132.
Satoshi-Era Wallet Resurfaces After Over a Decade
The whale still holds 591 BTC, worth $73.67 million. The move revived a wallet untouched for 12.5 years, last active between 2012 and 2013. Analysts say such early Bitcoin addresses are rare, often linked to the asset’s earliest mining and accumulation phases.
The reactivated address was also tracked by Whale Alert, which noted a series of transfers that sold portions of the holdings. The assets were offloaded at an average of $125,056 per coin, generating an estimated 82,355% return since acquisition. The total value of the transferred coins stood at roughly $86.4 million.
Whale Activity Follows Bitcoin’s Record Rally
The reawakening coincided with Bitcoin’s latest price surge, which saw the crypto climb to an all-time high of above $126,000 before consolidating near $124,000. Analysts often view dormant whale movements during consolidation phases as potential indicators of market repositioning.
Notably, additional whale activity occurred within the same 48-hour window. After Bitcoin flipped $123,400, another large holder transferred 1,550 BTC, valued at approximately $200 million, to Binance.
The movement supports observations by VanEck’s Head of Digital Asset Research, Matthew Sigel, who recently stated that exchanges were experiencing declining reserves and, in some cases, seeking direct Bitcoin purchases.
According to Sigel, VanEck received calls from exchanges looking to buy Bitcoin, hinting at tightening supply conditions across major trading venues. Such an outlook comes amid sustained demand from institutional investors and growing confidence in Bitcoin’s role as a scarcity‑driven asset.
Market Dynamics and Price Outlook
Bitcoin’s current bullish outlook is intact despite the brief pullback. Data from Coinalyze indicates total open interest is at $44.4 billion, a 0.7% increase in the past 24 hours. Of this, perpetual contracts account for $42.2 billion, while futures positions total $2.2 billion.
Among exchanges, Binance leads with $15.1 billion in open interest, followed by Bybit at $10.1 billion. OKX and Huobi hold about $5 billion each, while Hyperliquid records $4.2 billion. Analysts note that rising open interest shows increased leveraged trading, indicating speculative buildup within Bitcoin’s derivatives market.
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From an on‑chain perspective, Bitcoin’s Accumulation/Distribution (Acc/Dist) line is at 12.83 million, indicating steady buying pressure. The MVRV Z‑Score is at 32.40, suggesting Bitcoin’s market value is elevated but not yet overheated. Historically, this range has supported continued price expansion before major overbought conditions emerge.
Analyst expects Bitcoin to trade between $124K and $125K before testing higher resistance ranges. A backed‑up breakout above $125,559 could push prices toward the $130K–$135K range. However, failure to hold current support may lead to a correction toward the $120K level before renewed upward momentum resumes.
VanEck projects Bitcoin could capture half of gold’s $26 trillion market cap within the next decade, implying a potential price near $644,000. This projection strengthens the perception of Bitcoin as a long‑term hedge against monetary debasement.
Meanwhile, the reemergence of a Satoshi era whale after more than a decade shows renewed movement among early holders amid record prices. Increased whale transfers, surging open interest, and exchange reserves show growing market activity around Bitcoin’s current highs. Despite short‑term dips, the long‑term outlook shows a strong, sustained cycle of accumulation and repositioning in the broader Bitcoin market.